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25-34 Year Olds Lawyers are Included in a Lost Generation

Serious economic burdens face the “Lost Generation” of young lawyers aged 25-34, which came of age during a prolonged financial crisis.  The burdens and hurdles faced by these 25-34 year olds maybe higher than any since the 1930s. 

This crisis has extracted a heavy toll on young lawyers included in the Lost Generation.  As noted in the Wall Street Journal, this Generation faces “difficult job prospects, little-to-no-income growth and a historically unprecedented level of student loan, their finances are in a more precarious state than those of prior generations.”  See WSJ, 6/10/14 page C8. 

The Lost Generation of attorneys did not choose to graduate from law school or start their careers during the Great Recession.  Nevertheless, these lawyers have had to struggle through.

Gone are the days of extensive legal training offered by existing law firms.  Jobs are available for trained attorneys, but who trains the novice out of law school or young associate who wants to change substantive arears?  Now, lawyers must seek qualified training on their own or though boot camps--- or risk perishing.  Boot camps have sprung up around the country to satisfy that need.  Bar associations offer 3-hour seminars that are summary sessions. 

However, an intensive boot camp in a substantive area is what young lawyers really need to succeed.  A bankruptcy boot camp is the ideal place for those attorneys who want to learn a marketable legal skill.

-Attorney Robert Schaller